85,195 Simon Property Group, Inc. $SPG Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 8.9% in the third quarter, HoldingsChannel reports. The firm owned 872,777 shares of the real estate investment trust’s stock after selling 85,195 shares during the quarter. Russell Investments Group Ltd.’s holdings in Simon Property Group were worth $175,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new stake in Simon Property Group in the second quarter worth $27,000. Fulcrum Asset Management LLP acquired a new stake in Simon Property Group in the third quarter worth $27,000. Osbon Capital Management LLC bought a new stake in Simon Property Group in the second quarter valued at $32,000. Fiduciary Financial Advisors bought a new stake in Simon Property Group in the second quarter valued at $34,000. Finally, N.E.W. Advisory Services LLC lifted its stake in Simon Property Group by 335.0% in the second quarter. N.E.W. Advisory Services LLC now owns 174 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 134 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SPG. UBS Group boosted their price target on shares of Simon Property Group from $205.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Simon Property Group from $231.00 to $223.00 and set a “neutral” rating on the stock in a report on Thursday, September 10th. Piper Sandler cut their price objective on shares of Simon Property Group from $285.00 to $254.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Barclays cut their price objective on shares of Simon Property Group from $215.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Monday, September 28th. Finally, Scotiabank reduced their target price on shares of Simon Property Group from $222.00 to $221.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Nine research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $230.10.

Simon Property Group Stock Performance

Shares of SPG stock opened at $233.58 on Friday. Simon Property Group, Inc. has a 12-month low of $177.88 and a 12-month high of $238.50. The firm has a market capitalization of $75.58 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The business has a 50 day simple moving average of $209.73 and a 200 day simple moving average of $207.74. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.74 and a quick ratio of 1.05.

Simon Property Group (NYSE:SPG) last posted its earnings results on Thursday, November 5th. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $1.69 by $1.68. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 63.08%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $3.22 EPS. Simon Property Group has set its FY 2026 guidance at 13.300-13.400 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 13.35 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Thursday, December 10th will be paid a $2.30 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 3.9%. Simon Property Group’s dividend payout ratio (DPR) is currently 64.94%.

Insider Buying and Selling

In other Simon Property Group news, Director Marta R. Stewart purchased 199 shares of the stock in a transaction dated Wednesday, September 30th. The shares were bought at an average cost of $202.78 per share, with a total value of $40,353.22. Following the completion of the acquisition, the director owned 18,199 shares of the company’s stock, valued at approximately $3,690,393.22. This trade represents a 1.11% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stefan M. Selig acquired 208 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The shares were bought at an average price of $202.78 per share, for a total transaction of $42,178.24. Following the completion of the purchase, the director owned 34,020 shares of the company’s stock, valued at approximately $6,898,575.60. This represents a 0.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 1,668 shares of company stock valued at $338,237. Company insiders own 8.73% of the company’s stock.

About Simon Property Group

Simon Property Group is a real estate investment trust that owns, develops and manages shopping, dining and entertainment destinations. Its portfolio includes regional malls, premium outlet centers and mixed-use properties, which combine retail with other uses such as restaurants and entertainment. The company’s properties are located primarily in the United States, with additional investments and operations in international markets, including Europe and Asia. Its business activities include leasing space to retailers and other tenants, operating properties and investing in redevelopment and expansion projects.